Permira Sells Further Stake in Hugo Boss

Plans to reduce stake to 14% or less

Private equity firm Permira has reduced its stake in German fashion group Hugo Boss further, selling shares to the Marzotto family and additional investors.

Hugo Boss said late Monday it has been informed by Red & Black, a company majority-owned by Permira, about plans to reduce the stake to 14% or less from 32%. Red & Black plans to place at least 7.35 million shares, or about 10.4% of the total share capital, in an accelerated bookbuilding process.